Stepnell shareholders announce demerger of business sectors

Shareholders at Stepnell Group have announced a demerger that will separate the construction, property management and property investment sectors of the business.

As a result of the demerger, shareholders Peter Wakeford, Tom Wakeford, Ed Wakeford and David Wakeford will each own distinct companies within the newly structured Stepnell Group.

Tom Wakeford will continue to lead Stepnell, the construction division, alongside its existing leadership team, as well as Step Energy, which focuses on decarbonisation and renewable energy.

Meanwhile, Ed Wakeford will oversee the property and development business.

The firm manages construction projects across central and southern England from a network of regional offices located in Nottingham, Rugby, Wantage, Bristol, Southampton & Poole.

In a collective statement, shareholders said: “The effect of the demerger will positively benefit current and potential clients providing clear leadership for each of the respective businesses and their employees.

“Operating the group as independent businesses will enable us to be more agile to focus on our clients, boosting these robust businesses in our chosen markets – and creating greater potential for each business to expand, invest and further improve the offering to its clients and employees. We aim to conclude the demerger in January 2025; the businesses will continue to deliver for our clients and stakeholders as we transition into full demerger.”